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2705 Night Song Drive Pearland, TX 77584

4 Beds 3 Baths 2,919 sqft Built 2012

$300,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $102.77
  • 3 Days on Market
  • MLS # : 21154607
  • Updated Date : 03/13/2021 at 11:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,919 sqft
  • Baths : 3 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

This is the home you have waiting for! Beautiful Perry Home in the highly desirable Shadow Creek Ranch! One-story with 4 bedrooms PLUS study, 3 full baths, 2 car garage on a generous sized lot! Enter through the impressive grand foyer! Marvel at the high ceilings in the luxurious formal sitting room to your left! The long hallway to left leads to two considerable bedrooms & a bathroom to the left, and a separate bedroom suite, including full bath, to the right. Continue to the formal dining, ideal for lively dinner parties! Stay productive in the additional secluded office space! The chef’s kitchen, equipped with gas stove, huge pantry, ample storage, and plenty of counter space, is open to the spacious living and breakfast area. Proceed into the large primary bedroom suite with sitting area and large master bath. The suite includes two considerable closet spaces for abundant storage. The outside covered patio provides a tranquil escape for cool evenings. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Shadow Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k329k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Shadow Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722166

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Blue Ridge Elementary School Primary Regular 628 45 3
Mcauliffe Middle School Middle Regular 885 58 2
Willowridge High School High Regular 1,280 85 2

Blue Ridge Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 45
3
GreatSchools Rating

Mcauliffe Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 58
2
GreatSchools Rating

Willowridge High School

  • Education Level: High
  • # of students: 1,280
  • # of teachers: 85
2
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,042
Property Tax -$854
Property Insurance -$196
HOA -$72
Property Management Fees -$99
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$10,733

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,440

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,656

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,6003$2,6004$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 2705 Night Song Drive Pearland, TX 1
    • 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.84
    •  
  • 13612 Orchard Wind Lane Pearland, TX 2
    • 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2008
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 2708 Barons Cove Court Pearland, TX 3
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2005
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 2404 Evening Star Drive Pearland, TX 4
    • 4 beds 4 baths ∙ 3,103 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,103 Sqft ∙ Built 2014
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 2513 Mountain Sage Drive Pearland, TX 5
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Shelly Garg
1.832.713.6176
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21154607
Last Updated: 03/13/2021
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